After US domestic scrap prices trended sideways this month, sources tell SteelOrbis that US domestic rebar prices should follow suit. Dealmaking that has been heard in recent weeks is expected to diminish, but with plenty of supply in the market and negligible competition from imports, deals could still be seen here and there, sources say.
For now, US domestic rebar spot prices are unchanged week-on-week. Spot prices in the Midwest are still at $42.50-$43.50 cwt. ($937-$959/mt or $850-$870/nt) ex-mill, and prices on the East coast are still at $42.00-$43.00 cwt. ($926-$948/mt or $840-$860/nt) ex-mill.